Banque Saudi Fransi has established a $2 billion Islamic bond (sukuk) program, a regulatory filing on the London Stock Exchange showed. Citigroup, Credit Agricole, Deutsche Bank and Saudi Fransi Capital are arrangers and dealers on the program, the April 17 prospectus showed.
Islamic bond sales in Saudi Arabia rose to a record $6.55 billion so far this year as the government's spending plan encourages companies to raise funds to invest...............................................Full Article: Source